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Article: Using a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation model

TitleUsing a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation model
Authors
Issue Date1987
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb
Citation
Transportation Research Part B, 1987, v. 21 n. 5, p. 339-357 How to Cite?
AbstractThe general equilibrium effects of alternative transportation policy proposals are analyzed using a multi-modal, benefit-cost model of demand and supply within a discrete choice framework. Using the expenditure function as an empirical construct yields Hicksian consumer's surplus measures, which are usually not directly observable. Despite the absence of data on the complete budget and only mode choice data, the procedure we use to prove the stochastic analog of Roy's Identity identifies the entire indirect utility function, and hence the explicit expenditure function. The model is applied to a corridor simulation model of Interstate 580 of the San Francisco Bay Area. Travel demand is calibrated using multinomial logit on a sample of work-trip commuters. Detailed modal costs are estimated and entered as parameters of the demand model. The Scarf algorithm equilibrates the analytic disaggregated demand model and a parallel analytic supply model. Our forecast is based on a synthetic sample of households generated by an efficient program that uses census data. The benefits of policy alternatives, such as marginal (resource) cost pricing are computed and discussed. © 1987.
Persistent Identifierhttp://hdl.handle.net/10722/177651
ISSN
2015 Impact Factor: 3.769
2015 SCImago Journal Rankings: 3.905

 

DC FieldValueLanguage
dc.contributor.authorHau, TDen_US
dc.date.accessioned2012-12-19T09:39:26Z-
dc.date.available2012-12-19T09:39:26Z-
dc.date.issued1987en_US
dc.identifier.citationTransportation Research Part B, 1987, v. 21 n. 5, p. 339-357en_US
dc.identifier.issn0191-2615en_US
dc.identifier.urihttp://hdl.handle.net/10722/177651-
dc.description.abstractThe general equilibrium effects of alternative transportation policy proposals are analyzed using a multi-modal, benefit-cost model of demand and supply within a discrete choice framework. Using the expenditure function as an empirical construct yields Hicksian consumer's surplus measures, which are usually not directly observable. Despite the absence of data on the complete budget and only mode choice data, the procedure we use to prove the stochastic analog of Roy's Identity identifies the entire indirect utility function, and hence the explicit expenditure function. The model is applied to a corridor simulation model of Interstate 580 of the San Francisco Bay Area. Travel demand is calibrated using multinomial logit on a sample of work-trip commuters. Detailed modal costs are estimated and entered as parameters of the demand model. The Scarf algorithm equilibrates the analytic disaggregated demand model and a parallel analytic supply model. Our forecast is based on a synthetic sample of households generated by an efficient program that uses census data. The benefits of policy alternatives, such as marginal (resource) cost pricing are computed and discussed. © 1987.en_US
dc.languageengen_US
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trben_US
dc.relation.ispartofTransportation Research Part Ben_US
dc.titleUsing a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation modelen_US
dc.typeArticleen_US
dc.identifier.emailHau, TD: timhau@hku.hken_US
dc.identifier.authorityHau, TD=rp01068en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi0.1016/0191-2615(87)90035-X-
dc.identifier.scopuseid_2-s2.0-0023517424en_US
dc.identifier.volume21en_US
dc.identifier.issue5en_US
dc.identifier.spage339en_US
dc.identifier.epage357en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridHau, TD=24404637500en_US

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